NSW Introduces Strata Law Reforms to Strengthen Community Governance
NSW Introduces Strata Law Reforms to Strengthen Community Governance
0
On 27 October 2025, the New South Wales (NSW) Government implemented significant reforms to strata laws, aiming to enhance transparency, accountability, and financial management within strata schemes.
These changes are designed to better meet the evolving needs of strata communities across the state.
Key aspects of the reforms include:
Building Manager Duties: New responsibilities have been assigned to building managers, focusing on safety, repair, maintenance, and acting in the best interests of the strata schemes they serve.
Disclosure Requirements: Building manager candidates are now required to declare any benefits that may influence the fees charged to owners corporations, promoting greater transparency.
Exclusive Supply Networks: Details of exclusive supply (embedded) networks must be included in strata information certificates, ensuring owners are fully informed about their property's utilities and services.
These reforms stem from the 2021 statutory review of strata laws and incorporate feedback from the strata sector, property owners, and residents. The phased implementation allows stakeholders time to adapt to the new requirements, with further changes scheduled for 1 April 2026.
For strata property owners, managers, and committees, understanding and complying with these new laws is crucial. The reforms aim to create a more transparent and accountable environment, ultimately benefiting all parties involved in strata living.
For more detailed information on the specific changes and how they may affect your strata scheme, visit the NSW Government's official announcement.
Published:Wednesday, 19th Nov 2025 Source: Paige Estritori
On 27 October 2025, the New South Wales (NSW) Government implemented significant reforms to strata laws, aiming to enhance transparency, accountability, and financial management within strata schemes. These changes are designed to better meet the evolving needs of strata communities across the state. - read more
In its 2025 State of the Strata Market report, CHU has revealed that strata insurance premiums have experienced a modest increase of 2.8%, rising to an average of $981 per lot in the year leading up to June 2025. This increment is notably lower than the 14% surge observed in house insurance premiums during the same period. - read more
Consumer advocacy groups, including the Australian Consumers Insurance Lobby (ACIL) and the Owners Corporation Network (OCN), are urging the New South Wales (NSW) Government to implement a ban on commissions related to strata insurance. They argue that such commissions create conflicts of interest and compromise transparency within the strata management sector. - read more
The Australian Financial Complaints Authority (AFCA) has recently ruled against TAL, a prominent life insurer, for terminating a policyholder's income protection benefits without prior notice. This decision underscores the critical importance of procedural fairness in the management of insurance claims. - read more
The Actuaries Institute has issued a call for immediate action to address the escalating financial strain that mental illness is placing on Australia's insurance and compensation systems. This appeal underscores the pressing need to ensure the sustainability of the nation's financial safety net in the face of increasing mental health-related claims. - read more
Fitch Ratings has projected that Australian insurers will continue to implement premium increases, with gross written premiums expected to grow by mid to high single digits. This forecast is driven by the need to offset rising claims and increased allowances for natural hazards. - read more
Affordable health insurance refers to insurance plans that offer necessary health coverage at a price within one's financial means. These plans aim to balance cost with the quality of care, providing essential services without excessive financial burden. The goal is to make healthcare accessible to a wider population, ensuring that everyone can maintain their health without going into debt. - read more
Life insurance is a crucial part of any comprehensive financial plan, providing peace of mind that your loved ones will be financially secure in the event of your passing. - read more
Income protection insurance serves as a financial safety net for countless Australians, offering a replacement income when unforeseen circumstances such as illness or injury impede their ability to earn. For the self-employed and entrepreneurs who may not have the safety nets offered by corporate employment, such protection is particularly important. - read more
Life insurance is a cornerstone of financial planning, offering peace of mind to you and security for your loved ones. It's a contract between you and an insurance company: in exchange for regular premiums, the insurer agrees to pay a sum of money to designated beneficiaries upon your passing. This vital tool ensures that your family's financial needs can be met during an incredibly difficult time. - read more
Income protection insurance stands as an unsung hero in the tapestry of financial security, often overlooked but irreplaceable in its role. Designed to provide a safety net, it ensures that individuals can continue to receive a portion of their income should they become unable to work due to illness or injury. It’s about peace of mind, knowing that life's unforeseen events won't sweep the ground from beneath you. - read more
Navigating the complex world of insurance can often feel daunting, but understanding the importance of life stage consideration when choosing life insurance is essential. As we journey through the various chapters of our lives, our financial responsibilities, dependents, and personal circumstances evolve. These changes invariably have significant implications for our insurance needs. - read more
Start Here !
All quotes are provided free and without obligation. We respect your privacy.
Knowledgebase
Indemnity: A legal principle that stipulates that insurance policies should restore the insured to the financial position they were in before the loss.